Office Building Forfeiture Won't Affect Tenants

November 20, 2009
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The United States is seeking forfeiture of the Alavi Foundation's New York City office building at 650 Fifth Avenue, claiming that Alavi has been laundering money for Iran. A federal lawsuit claims that the Alavi Foundation and Assa Corp. have been “providing numerous services to the Iranian Government and transferring funds from the 650 Fifth Avenue Company to Bank Melli.” Bank Melli is a bank wholly owned and controlled by the Iranian government.

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